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of <h1>IFSCA Sets Guidelines for Gold Import by Qualified Jewellers via India International Bullion Exchange.</h1> The International Financial Services Centers Authority (IFSCA) has issued guidelines for the import of gold by Qualified Jewellers (QJ) through the India International Bullion Exchange (IIBX) or other approved exchanges. Authorised Dealer (AD) banks can allow QJs to make advance payments for gold imports, ensuring compliance with relevant trade policies and regulations. If the import does not materialize, unused funds must be returned within eleven days. AD banks must ensure proper documentation and reporting of transactions. These guidelines aim to facilitate gold imports by QJs in accordance with the Foreign Exchange Management Act (FEMA) and other applicable laws.
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